Cofunds teams with GAM on unitised DFM offering

Source: Cofunds

GAM's recently launched discretionary fund management (DFM) offering for the UK adviser market is now available on Cofunds, the UK's leading platform for financial services.

GAM's DFM service, launched last year, provides access to five risk-rated models catering for a range of risk/return profiles in a fund structure. It's available with immediate effect to the 7,000 adviser firms which use Cofunds.

Those firms will now benefit from in-depth, adviser-branded, client level reporting made possible by Cofunds' ability to provide market intelligence (MI) that drills down to unique client ID codes.

Through Cofunds, investors can access GAM's portfolio management services with assets pooled in a collective structure in a cost effective way, even for smaller investment amounts. Accessing GAM's DFM offering in this way means the investment is not subject to VAT.

Michelle Woodburn, Cofunds Head of Fund Manager Relations, commented: "I make no bones about it. This is a fantastic tie-up for us because at the same time as complementing our existing solutions in this area, it gives us the opportunity to showcase the incredible added value that detailed, robust and scalable MI handling and interrogation can offer advisers and their clients. GAM's impressive DFM offering is a great way to bring that to life."

Matthew Lamb, Head of Institutional and Fund Distribution UK, GAM said: "As the largest platform in the UK, we are very excited about working with Cofunds. Cofunds really is the benchmark in the platform industry and has been able to ensure we have necessary data to allow financial advisers access to GAM's unitised DFM offering and Personalised Collective Account service (PCA).

"PCA brings together the benefits of a collective structure without losing any of the service elements of a discretionary portfolio. We believe PCA sets us apart from our industry peers. Clients are provided with bespoke reporting that shows the individual performance since the date of their investment, detailed breakdowns on allocations and underlying GBP holding values. In addition, the valuation pack pools all investments, incncluding ISA and SIPPs as well as details top-ups and withdrawals. In exactly the same way as a typical discretionary manager would, but without the associated fixed costs and paperwork that can be prohibitive to smaller clients. And, of course, the brilliant thing about this solution is that it's VAT free and incredibly easy to access through Cofunds." 

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